 "mutual fund")
The sharp surge in investment accounts (folios) in midcap and smallcap mutual funds (MF) in recent months is likely driven by the do-it-yourself (DIY) investors. In the first five months of the present financial year (FY 2024), net folio additions in direct MF plans (4.5 million) has outpaced that in regular plans (3.9 million), contrary to the trend seen in the previous three six-month periods.
The net folio additions in direct plans in the five-month period (April-August 2023) is 40 per cent higher than the total additions made in the previous six month period.
The jump in account openings in
